N.Y. Lien Law § 55: Offer to pay money into court, or to deposit securities, in discharge of the lien

§ 55. Offer to pay money into court, or to deposit securities, in

discharge of the lien. At any time after an action is brought under the

provision of this article, the owner may make and file with the clerk

with whom the notice of lien is filed, if in a court of record, and if

in a court not of record, with the court, an offer to pay into court the

sum of money stated therein, or to execute and deposit securities which

he may describe, in discharge of the lien, and serve upon the plaintiff

a copy of such offer. If a written acceptance of the offer is filed with

such clerk, or court, within ten days after its service, and a copy of

the acceptance is served upon the party making the offer, the court,

upon proof of such offer and acceptance, may make an order, that on

depositing with such clerk, or court, the sum so offered, or the

securities described, the lien shall be discharged, and that the money

or securities deposited shall take the place of the property upon which

the lien existed, and shall be subject to the lien. If the offer is of

money only, the court, on application and notice to the plaintiff may

make such order, without the acceptance of the offer by the plaintiff.

If such action is brought in a court not of record, such order may be

made by the county court of the county where such action is brought upon

notice, and upon filing such order and depositing such sum of money or

securities with the county clerk of such county, he shall forthwith

discharge said notice of lien, by writing upon the margin of the record

thereof, the words "discharged by payment." Money or securities

deposited upon the acceptance of an offer pursuant to this section shall

be held by the clerk or the court until the final determination of the

action, including an appeal.